Actuarial Assumptions

11(1) For the purposes of sections 9 and 10, the following are the only demographic assumptions on which the actuarial values are to be based:

(a) the rates of mortality are those set out in the valuation report laid before Parliament in accordance with sections 65 and 66 of the Act, taking into account the mortality projection factors set out in the report; and

(b) the rates of divorce are those established by the Superintendent of Financial Institutions in accordance with statistics on divorce published by Statistics Canada.

(2) For the purposes of subsection (1), the valuation report is the most recent valuation report laid before Parliament or, where the most recent valuation report was laid less than two months before the day on which the former member made an election, the previously laid report.

12 For the purposes of the determinations referred to in sections 9 and 10, the rates of interest set out in the Recommendations for the Computation of Transfer Values from Registered Pension Plans, published by the Canadian Institute of Actuaries, effective September 1, 1993, shall be the rates of interest in respect of

(a) the former member received in writing, from a person employed in the Public Service, within the meaning of subsection 3(1) of the Public Service Superannuation Act, whose ordinary duties included the giving of advice respecting the election, materially erroneous or misleading information regarding the amount of the former member’s joint and survivor benefit or the amount of the joint and survivor benefit to which the spouse would be entitled; or

(b) the amount of the joint and survivor benefit payable to the former member is adjusted in accordance with the Pension Benefits Division Act after the day on which the election was made.

(2) Where it is established that a former member has received erroneous or misleading information as described in paragraph (1)(a), the Minister shall send the former member a written notice containing the correct information.

(3) The revocation of the election under subsection (1) shall be in writing and shall be sent to the Minister

(a) within three months after the day on which the notice referred to in subsection (2) is sent to the former member; or

(4) The revocation of the election under subsection (1) is effective on the day on which it is sent in accordance with subsection (3).

SOR/2002-304, s. 3

Effective Date of Joint and Survivor Benefit

15(1) Subject to subsections (2) to (4), a joint and survivor benefit is payable to a former member effective on the first day of the second month after the month in which the election is made.

(2) Where payment of the allowances to which the former member is entitled is deferred pursuant to section 37.1 of the Act, the former member’s joint and survivor benefit becomes payable on the later of

(a) the first day of the month after the month in which those allowances become payable, and

(b) the first day of the second month after the month in which the election is made.

(3) In the case of a former member described in subsection 10(1), the adjustment of the amount of the former member’s joint and survivor benefit is effective on the first day of the month after the month in which their retiring or compensation allowances or supplementary benefits, as the case may be, become payable.

(4) In the case of a former member described in subsection 10(2), the adjustment of the amount of the former member’s joint and survivor benefit is effective on the first day of the month after the month in which their retiring or compensation allowances or supplementary benefits, as the case may be, would become payable.

Termination of Joint and Survivor Benefit

16 Where an election is revoked pursuant to section 13 or 14, the joint and survivor benefit payable to the former member ceases to be payable on the first day of the month in which the revocation takes place.

Joint and Survivor Benefit for Spouse

17 The joint and survivor benefit to which a spouse is entitled on the death of the former member who had made an election is equal to an amount determined in accordance with clause 9(1)(b)(ii)(B), if paragraph 9(1)(b) were read without reference to supplementary benefits payable under Part IV of the Act.